The Internal Revenue Service announced that interest rates will remain
\nthe same for the calendar quarter beginning Jan. 1, 2012. The rates will be:<\/p>\n
The 3 percent rate also applies to estimated tax underpayments for the first
\ncalendar quarter in 2012 and for the first 15 days in April 2012.<\/p>\n
Under the Internal Revenue Code, the rate of interest is determined on a
\nquarterly basis. For taxpayers other than corporations, the overpayment and
\nunderpayment rate is the federal short-term rate plus 3 percentage points.
\nGenerally, in the case of a corporation, the underpayment rate is the federal
\nshort-term rate plus 3 percentage points and the overpayment rate is the
\nfederal short-term rate plus 2 percentage points.<\/p>\n
The rate for large corporate underpayments is the federal short-term rate
\nplus 5 percentage points. The rate on the portion of a corporate overpayment of
\ntax exceeding $10,000 for a taxable period is the federal short-term rate plus
\none-half (0.5) of a percentage point. Further, the federal short-term rate that
\napplies during the third month following the taxable year also applies during
\nthe first 15 days of the fourth month following the taxable year.<\/p>\n
The interest rates announced today are computed from the federal short-term
\nrate during October 2011 to take effect Nov. 1, 2011, based on daily
\ncompounding.<\/p>\n
Revenue Ruling 2011-32<\/a>, announcing the rates of interest, is attached and will The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2012. The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; three (3) … Continue reading
\nappear in Internal Revenue Bulletin No. 2011-52, dated Dec. 27, 2011.<\/p>\n","protected":false},"excerpt":{"rendered":"